Mises Canada

Methodology

IMF Says China’s Currency No Longer Undervalued The International Monetary Fund announced on Tuesday that for the first time in over a decade China’s currency is no longer undervalued (SCMP). U.S. policymakers have long criticized China’s artificial weakening of the renminbi,

I’ve got a confession to make: my favourite economics blog name is Noah Smith’s “Noahpinion”. It’s a really great blog name. With the niceties out of the way, let’s address Smith’s latest screed: “How the New Classicals drank the Austrians’

Much fuss is made in macroeconomic circles over so-called “microfoundations”: microeconomic justifications for macroeconomic models, as opposed to macro models that make ad hoc assumptions about utility, preferences, and price setting. People like to bring up the “Calvo pricing model”,

It is well known that the Christina Romer / Jared Bernstein report, issued in January 2009 when Obama first came into office, got things exactly backwards. At the time, unemployment in the U.S. was 7 percent and change. Romer, who

Value is subjective. This is one of the cornerstones of modern economics. What’s known as the “marginal revolution” of the late 19th century was responsible for bringing the axiom from intellectual musing to orthodox dogma. Three economists – Leon Walras,

The Bank of Canada’s latest quarterly review suffers from the fatal conceit. Although technically the whole central banking system is a fatal conceit, one of the articles particularly highlights the complete ignorance and arrogance of Canada’s central bankers. Nii Ayi

Bank of Canada Governor Stephen Poloz said that interest rates will remain low and the economy will grow due to “accommodative financial conditions.” His logic goes: The US economy is recovering ergo Canadian exports will grow therefore solid Canadian business

On June 19th, Stephen Poloz gave his first major speech as Governor of the Bank of Canada. Reading through it, it’s clear that Poloz – like his predecessor – has no real understanding of economics. So I’ve decided to pick

For the last few days, story of one Komal Ganatra has been making headlines in India. Her dad, now retired, earned his living as a school teacher in India. Five years back, she was married off to an Indian immigrant

Unlike what is commonly believed, economics is not about money, or profit, or investments, or capitalism, or wages, or unemployment or stocks and bonds or about any other buzzword you may have heard or read in the media. Yes, economics does study

From the introductory undergraduate to the advanced Ph.D. courses in economics, students are taught that the concept of the indifference curve is very useful in analyzing human choice. I am emphasizing the term useful for a reason. No one ever

Neil Macdonald of the CBC recently did an investigative piece on central bankers and what they’re doing to the world’s economies. Mark Carney was featured heavily. He told Macdonald, “there is no secret cabal orchestrating things,” despite CBC’s own findings

Sadhguru Vasudev cautions those that want to change the world to first rid their own hearts of fear and pain, before embarking to change the way others live — otherwise one will only transcribe one’s own darkness upon the world

Following politics where I live is like riding a rollercoaster ad nauseam. If youâ€™re from Balkans too or have ever heard the rhetoric of a Balkan politician, you could have not possibly escaped the use of the word â€œnational interest.â€

Spontaneous order and the inadequacy of human knowledge. Throughout most of intellectual history, society has been consideredÂ to be the result of someoneâ€™s design. In his multi-volume Law, Legislation, and Liberty,Â the social theorist F. A. HayekÂ referred to this positionÂ as â€œconstructivist rationalismâ€

Despite the obvious bias which engulfs the incestual working relationship between the Federal Reserve System, the U.S. financial sector, and the U.S. government, occasionally some grains of truth trickle out from these Ministries of Truth.Â In a new report by

What are the potential benefits in being familiar with Austrian economics? This is the question that I hope to at least partially answer here. I study economics at the Department of Food, Agricultural and Resource Economics at the University of

Kosovo is Europeâ€™s newest country after declaring independence from Serbia in 2008. It is at the same time Europeâ€™s poorest countryâ€”with unemployment approaching a staggering 49% and around 30% of the population living below the â€œpoverty line.â€ However, as bad